Home Buyers Guide Spring 2024

If you are thinking of buying a home in Vero Beach this spring, this special edition of the Spring 2024 Buyers Guide, includes tips and answers to your questions such as What’s Happening in the Housing Market Today, Why It’s More Affordable To Buy a Home This Spring, Are More Homeowners Selling, Why You Should Use a Real Estate Agent When You Buy a Home, and much more.

Take a look at what is inside in the Home Buyers Guide Winter of 2024 and get it for FREE today!

What is inside the Home Buyers Guide Winter 2024

WHAT’S HAPPENING IN THE HOUSING MARKET TODAY?

You might be thinking about how the latest housing market news will affect your plans to buy a home this spring. Here are the three most important questions you should be asking:

1. What’s Going On with Mortgage Rates?

Mortgage rates have come down a bit from their most recent peak last October. And looking forward, most experts expect them to decline further over the course of the year, though with some volatility along the way.

And even a small change in mortgage rates can have a big impact on your purchasing power, making it easier for you to afford the home you want by reducing your monthly mortgage payment.

1. What’s Up with Home Prices?

Even though home prices are rising across the country, some buyers are worried they might drop. You might be one of them.

But experts say home prices are expected to keep going up this year. So, if you’re ready to buy, it’s better to do it soon because waiting may mean higher prices later.

1. Are More Homes Coming onto the Market?

In the past year, many homeowners didn’t want to sell because mortgage rates were high. They preferred to keep their lower rates instead of selling and taking on a higher rate on their next home. But now, there are signs people are ready to move again.

Lower mortgage rates are encouraging more homeowners to sell their houses. This increase in homes for sale means you might have more choices when looking for a home. Get the latest Vero Beach Market Reports to get informed about the local real estate market and give you an edge when looking for a home in Vero Beach.

WHY IT’S MORE AFFORDABLE TO BUY A HOME THIS SPRING?

ARE MORE HOMEOWNERS SELLING?

If you’re looking to buy a home, the overall downward trend in mortgage rates is good news because it helps with affordability. But there’s another way this benefits you – it may inspire more homeowners to put their houses up for sale, because:

1. The Mortgage Rate Lock-In Effect

Over the past year, one factor that’s really limited the options for your move is how few homes were on the market. That’s because many homeowners chose to delay their plans to sell once mortgage rates went up.

1. Early Signs Show Homeowners Are Ready To Move Again

According to data from Realtor.com, there were more homeowners putting their houses up for sale, known in the industry as new listings, in January 2024 compared to January 2023 (see graph below):

WHY YOU SHOULD USE A REAL ESTATE AGENT WHEN YOU BUY A HOME

If you’ve decided you’re ready to become a homeowner, chances are you’re trying to figure out what to do first. It can feel a bit overwhelming to know where to start, but the good news is you don’t have to navigate all of that alone.

Agents Are the #1 Most Useful Source in the Buying Process.
The latest annual report from the National Association of Realtors (NAR) finds recent homebuyers agree the #1 most useful source of information they had in the home buying process was a real estate agent.

How an Agent Helps When You Buy a Home .
When you think about a real estate agent, you may think of someone taking you on home showings and putting together the paperwork, but a great agent does so much more than that. It’s not just being the facilitator for your purchase, it’s being your guide through every step.

The list below uses that same NAR release to show some examples of the many ways an agent adds value. It includes the percentage of homebuyers in that report who highlighted each of these benefits:

• Helped Buyer Understand the Process (61%)
• Pointed Out Unnoticed Features or Faults with the Home (58%)
  
• Provided a Better List of Service Providers (46%)
• Negotiated Better Sales Contract Terms and a Better Price (46% and 33%)
  
• Improved Buyer’s Knowledge of the Search Area (45%)
  
• Expanded Buyer’s Search Area (21%)
  

If you’re looking to buy a home, don’t forget about the many ways an agent is essential to that process. Any hurdle that pops up, a negotiation that needs to take place, and more, your agent will know how to handle it while they make sure to minimize your stress along the way. Let’s connect to tackle it together.

Get this Spring 2024 Buyers Guide and find out how to get the best deal on a Vero Beach home. You will also find a lot more information in this NEW full version of the Home Buyers Guide for Spring 2024 by requesting one using the form below. It is FREE.